Future Machine's Rights Issue 62% Subscribed; Shares Slide 3%
MT Newswires Live
Oct 08
Future Machine (HKG:1401) said investors subscribed to about 309.2 million shares, or 61.8%, of its 500 million-share rights issue, leaving 190.8 million shares unsubscribed, according to a Monday Hong Kong bourse filing.
Shares of the firm were down nearly 3% in Wednesday morning trade.
The company said the unsubscribed shares will be offered to independent investors under compensatory arrangements through its placing agent, which will attempt to place them on a best-effort basis by Oct. 24.
Future Machine expects to announce the final results of the rights issue and placement, including any net gain per share, by Nov. 10.
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